Tuesday
Nov172009
Republican Senators Seek To Retire TARP
Tuesday, November 17, 2009 at 4:56PM
John DuBois, University of New Mexico-Talk Radio News Service
Senators John Thune (R-S.D.) and Bob Bennett (R-Utah) introduced the TARP Sunset Act Tuesday in the hope of making sure the controversial program, meant to stabilize the U.S. financial system, does not extend beyond this year.
“Now is the time to end this program to ensure that additional taxpayer dollars are not wasted since TARP has devolved into a slush fund for the administration,” said Thune.
The TARP Sunset Act will eliminate Treasury Secretary Timothy Geithner's ability to spend outstanding funds after the end of 2009.
"[The] crisis has passed and the usefulness of TARP therefore is over,” said Benett. “It should be terminated is that this administration is using it like a revolving credit account.”
Senators John Thune (R-S.D.) and Bob Bennett (R-Utah) introduced the TARP Sunset Act Tuesday in the hope of making sure the controversial program, meant to stabilize the U.S. financial system, does not extend beyond this year.
“Now is the time to end this program to ensure that additional taxpayer dollars are not wasted since TARP has devolved into a slush fund for the administration,” said Thune.
The TARP Sunset Act will eliminate Treasury Secretary Timothy Geithner's ability to spend outstanding funds after the end of 2009.
"[The] crisis has passed and the usefulness of TARP therefore is over,” said Benett. “It should be terminated is that this administration is using it like a revolving credit account.”
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